Project monitor reported that Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and ONGC Videsh Limited sought to leave their footprints in Syria, it appears to be the turn of 2 more PSUs, Hindustan Petroleum Corporation Limited and Oil India Limited to pursue business opportunities in the Middle East country.

According to sources, though HPCL is currently not engaged in discussions with any companies in Syria, the oil PSU is keen to bid jointly with other partners, for prospective E&P blocks in that country, if any such opportunity arises in future.

Officials at OIL stated that the company would pursue E&P business in Syria, singly or jointly, on nomination or negotiation basis or through open bidding rounds depending on technical merits.

As per report, the Syrian government has promised to consider the Indian oil PSUs in their expansion plans across various areas including E&P and improving or enhancing oil recovery. IOCL, BPCL and OVL have already informed Syria of their willingness to examine the possibility of participating in future licensing rounds for oil and gas blocks.